Investment Rating - The investment rating for the company is "Buy" [8] Core Insights - The successful grid connection of the second phase of the Guyana solar-storage project and the ongoing progress of overseas green electricity projects are key highlights [8] - The company is expected to benefit from the increasing demand for air pollution control equipment, with a projected net profit growth of 63.15% in 2024 and continued growth in subsequent years [8] - The company has a strong order backlog of 19.7 billion, which is expected to accelerate revenue recognition [8] Financial Projections - Total revenue is projected to decline by 7.64% in 2023, followed by a recovery with a growth of 20.74% in 2025 [8][9] - The net profit attributable to the parent company is forecasted to be 508.97 million in 2023, increasing to 1.23 billion by 2025, representing a growth of 48.33% [8][9] - The earnings per share (EPS) is expected to rise from 0.40 in 2023 to 0.97 in 2025 [8][9] Market Position - The company is positioned as the largest manufacturer of air pollution control equipment globally, benefiting from market demand driven by new construction and upgrades in the power and non-power sectors [8] - The company has successfully completed five international projects this year, enhancing its strategic layout in the mining equipment sector [8]

Core Viewpoint - The successful completion and commissioning of the 33.28MWp/37.50MWh solar-storage project at the Abidjan Gold Mine in Côte d'Ivoire marks a significant achievement for Zhaojin Mining, addressing power supply constraints and enhancing operational efficiency [1][2] Group 1: Project Overview - The solar-storage project has been built to resolve the electricity bottleneck that has hindered stable and efficient operations at the Abidjan Gold Mine [1] - The project enables a multi-energy complementary smart microgrid system, integrating solar, storage, grid electricity, and diesel power, allowing seamless switching between grid-connected and off-grid modes [1] - The implementation of the solar-storage system has significantly reduced electricity costs compared to traditional power supply methods, providing a long-term cost advantage for the mine [1] Group 2: Strategic Implications - This project is the first large-scale renewable energy demonstration power station for mines in Côte d'Ivoire following the introduction of the country's New Energy Law, showcasing Zhaojin Mining's commitment to ESG principles and green mining [2] - The successful execution of this project serves as a practical validation of the company's global integrated operational support system, which will accelerate the development of key overseas projects such as the Abidjan Gold Mine and others [2] - Zhaojin Mining aims to establish a cluster of overseas mining operations, positioning itself as a model for the globalization of China's gold mining industry [2]

Core Viewpoint - The successful completion of the solar-storage project at the Abidjan Gold Mine in Côte d'Ivoire marks a significant achievement for Zhaojin Mining, enhancing operational efficiency and reducing costs while addressing power supply challenges [1][2]. Group 1: Project Overview - The solar-storage project has a capacity of 33.28 MWp and 37.50 MWh, and it has been successfully connected to the grid [1]. - The project resolves the power supply bottleneck that has hindered stable and efficient operations at the Abidjan Gold Mine since 2025 [1]. Group 2: Operational Impact - The implementation of a multi-energy complementary smart microgrid system, combining solar, storage, grid electricity, and diesel power, allows for seamless switching between grid-connected and off-grid modes [1]. - This system effectively mitigates issues related to power shortages and equipment downtime, ensuring continuous and stable production at the mine [1]. Group 3: Strategic Significance - The project is the first large-scale renewable energy demonstration power station for mines in Côte d'Ivoire following the introduction of the country's New Energy Law, showcasing Zhaojin Mining's commitment to ESG principles and green mining [2]. - The successful execution of this project serves as a model for responsible development in overseas investments by Chinese mining companies, setting a green benchmark for the internationalization of the Chinese gold industry [2]. Group 4: Future Plans - During the 14th Five-Year Plan period, Zhaojin Mining aims to accelerate the construction and operation of key overseas projects, including the Abidjan Gold Mine, Odlan Mining, and King Gold Mining, leveraging the verified global integrated operational support system [2]. - The company is focused on establishing an overseas mining industry cluster and becoming a flagship for the globalization of the Chinese gold mining sector [2].

Core Viewpoint - The 1.2MWp+2MWh solar storage project, constructed by China Communication Services Zambia Co., Ltd., has successfully completed grid acceptance and has officially entered the commercial operation phase [1] Group 1 - The project is a solar storage initiative with a capacity of 1.2MWp and 2MWh [1] - The project was undertaken by China Communication Services Zambia Co., Ltd. as the general contractor [1] - The successful completion of the project marks a significant milestone in renewable energy development in Zambia [1]

Core Viewpoint - The company is actively monitoring the development and construction of solar energy storage projects [1] Group 1 - The company has expressed interest in solar energy storage projects [1]

Core Viewpoint - The foundation ceremony for a year-round power supply solar-storage project, involving China Electric Power Construction (China Electric), was held in Abu Dhabi, UAE, marking a significant step towards energy transformation in the region [1]. Group 1: Project Overview - The project is jointly developed by Abu Dhabi Future Energy Company and the UAE Water and Electricity Company [1]. - It features a solar power station with an installed capacity of 5.2 gigawatts and a battery system with a total storage capacity of 19 gigawatt-hours, making it one of the largest projects of its kind globally [1]. - The project is expected to be operational by 2027 [1]. Group 2: Strategic Importance - The project aims to address the intermittency challenges of renewable energy, providing stable and sustainable clean power for the era of artificial intelligence and emerging technologies [1]. - The initiative is expected to promote the local digital industry and energy transformation [1]. Group 3: Company Commitment - China Electric's management expressed a commitment to continue developing global clean energy cooperation projects [1].